Agenda item

The Cabinet considered a joint report of the Corporate Director of Children and Young People’s Services and Corporate Director of Resources which provided an overview of maintained schools’ budget plans for 2023/24, as agreed by the relevant Governing Bodies. The report also highlighted where the Corporate Director of Resources would exercise his judgement in terms of approving the setting of deficit budgets, in accordance with the Council’s constitution and the Scheme of Financing for Schools (for copy of report see file of minutes).

Councillor R Bell, Deputy Leader of the Council and Cabinet Portfolio Holder for Finance informed the Cabinet that maintained schools were budgeting to utilise £7 million of their retained balances in year, which if ultimately required would see maintained balances reduce to £21.2 million at the end of this financial year.

Councillor R Bell spoke of the importance to not only support but also challenge schools to properly manage their budgets and ensure that school leadership teams, including their governing bodies, were living within their means.

Resolved:

That the report be noted.